Venturing into the commercial real estate industry can be challenging. As a broker, there is a lot required for you to succeed. Strategic planning, proper market research, and adopting the latest industry trends are some of the things that will enable you achieve success in commercial real estate. In this article we have compiled a few top sales tips for commercial real estate that will skyrocket your success.
Building your business can be tough, especially if you’re trying to do majority of the sales work yourself. The best way to build your business and start having clients contact you is to get great sales referrals from existing clients, or from potential clients you can seek out to develop a relationship with for long term gain. Here are 3 easy ways to get more commercial real estate referrals.
Commercial real estate brokers have a tough job. Unlike residential real estate agents, who have millions of homes to sell and buy with clients, commercial space is at more of a premium and therefore requires a lot more effort on the part of the commercial real estate broker . While it can be a lot of work to build a great list of tenants and buyers in the commercial space, there are a number of ways to get your clients onboard through commercial real estate email subject lines.
Here are a few ways you can get started writing great commercial real estate email subject lines:
Commercial real estate brokers often find that getting in front of prospects is their number one problem. Agents and salespeople are typically better in person, but if the prospect won’t book a meeting or answer your calls, you’re stuck using phone and email. There has to be something better, right? Well, it turns out you can reach your prospects more effectively with video email.
What is video email? According to BombBomb.com, by simply sending a video of yourself in an email to your prospect, you’ll quickly be on your way to gaining more commercial real estate deals. BombBomb users get 81% more replies from prospects, 68% more lead conversions and 56% of their users even get more referrals, just from sending quick videos within their emails!
Finding hot sales leads looking for commercial real estate can be a hard task for any salesperson. There are many options available to you such as social media engagement, cold calling and referrals. Another way to find hot sales leads looking for commercial real estate is by looking in your own email list.
In the past 24 months and after studying over 2,000 commercial real estate deals, we at Digsy, have acquired and analyzed hundreds of thousands of data sets that reveal quite a lot about how CRE deal close rate. The gems in the data that we’ve found is that taking certain actions during the deal process can help double or quadruple the probability of closing a deal.
We’ve also found that a deal’s closing probability decreases exponentially if a client spends more than 21 days in the same status without moving to the next. This is especially true if the deal has not moved from the very first stage of reviewing a shortlist of properties that a commercial real estate agent has sent them.
Our statistics show some alarming differences in the closing likelihood as the deal moves through various stages. Continue reading
With targets and deadlines to beat, salespeople are always on the run to meet clients, do presentations, or attend a training session. Therefore, mobile access to company software and sales tools is a necessity for their productivity.
Here are top 10 sales productivity apps to help boost your sales:
Todoist
As the name suggests, this is a simple task management app with a profound effect on how to get things done. Keeping track of your projects, collaborating with your team, or simple reminders to pay rent are some examples. Some key features include offline use, powerful organization with color-coded priority levels, and brilliant visuals to monitor your weekly or monthly goals.
Forrester Research says that a lack of user adoption is the reason behind 70% of CRM projects that fail. The Merkle Group, Inc. found that 65% of CRMs fail according to the executives whom they surveyed. It is no wonder that there can be a lack of adoption and a reluctance to launch CRM initiatives. Why would you try a new CRM implementation for your sales team if there is a high chance that they won’t use it effectively?
Consider the main reasons that CRM implementation fails, and you will be able to decide on a CRM system that is adopted successfully by your sales associates.
Salespeople know that getting the first meeting with a prospect is a tall order, but a very important step toward ultimately closing a deal. Most business executives are bombarded with social media, calls, and meeting request emails. How can you effectively get over this barrier and get the attention of a prospect for that crucial initial meeting?
Let’s look at a method successfully applied by Jennifer Linker, a top Business Development Associate at Vision Critical that gives her a third of her meetings!
What’s her secret source?
It can be a tough task to generate sales leads that are a good fit for your business, especially without cold calling. You’re probably out of the referrals from your friends and family, and it’s time to find another source of leads. Where can you find leads tailored to your business? What options are available to you? And how do you know if these leads are actually looking for your products or services?
207 million people in the United States use social media sites, so of course, it should be an integral part of your marketing and sales strategy. Besides just posting to social media so prospective buyers can find you, you should also be actively searching for those leads who are already searching for your products or services. If you aren’t very familiar with social media, it can seem a bit intimidating to begin your search. Where do you start? And what do you search for to generate sales leads?